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Property profile & analytics
OFF-MARKET
Auto shops
587 Raines Rd Memphis, TN 38109-8368
Individually Owned
12-yr Hold
~
Est. High Equity
Property ID
US80-0677728
Property summary
AI-generated overview
This turnkey automotive service center in Memphis, TN, presents a unique opportunity for a savvy investor. Located at 587 E Raines Rd, 38109, this well-established business boasts 1,374 square feet of space in a high-traffic area. Established 18 years ago, the business specializes in tire sales (new and used), oil changes, rim repair, tire repairs, and brake services. All necessary equipment for operations is included, ensuring a seamless transition for the new owner. The building, constructed in 1960 and renovated in 2018, is in excellent condition and requires no immediate repairs. The asking price is $245,000, translating to $178.31 per square foot. The permitted zoning is 26,574. This profitable business offers a strong foundation for continued success and growth within the community. The property is situated in Shelby County and offers a ready-made customer base and excellent potential for future expansion. This is a rare opportunity to acquire a profitable, established business with significant upside potential.
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1960
Total area
1,374 SF
Lot
0.61 ac (26,572 SF)
Zoning code
CMU-1
APN
076-050- - -00003
UPID
US80-0677728
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Neighborhood Tire & Battery (Bike/Boat/Book/etc) Store Auto Parts Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Neighborhood Tire · 12 yrs held
Neighborhood Tire
since 2013
2 recorded transactions
Zoning & alternative use
CMU-1 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Memphis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Memphis submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
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T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$2,000
Tax year 2022
Assessed value
$32,840
Assessed 2023
Previous assessed
$32,840
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$17,920
Assessed improvement
$14,920
Land market value
$44,800
Improvement market value
$37,300
Total market value
$82,100
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
1960
Heating
SPACE
Cooling
NONE
Stories
1
Total area
1,374 SF
Lot
0.61 ac (26,572 SF)
Zoning code
CMU-1
APN
076-050- - -00003
UPID
US80-0677728
Jurisdiction
SHELBY
Zoning & alternative use
CMU-1 · Memphis, TN
Zoning CMU-1 · permitted uses
CMU-1 · Memphis, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Memphis. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1960
Heating
SPACE
Cooling
Yes
Stories
1
Lot
0.61 ac
Current owner
From public records · entity-resolved
Neighborhood Tire
Individual
Mailing address
587 E RAINES RD, MEMPHIS, TN 38109-8368
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 9, 2013
$85,100
Neighborhood Tire
Custom Home Creations
Warranty Deed
$65,000 · Regions Bank
—
—
Custom Home Creations
—
Deed Of Trust
related
$150,000 · Amsouth Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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